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Below is an Interesting article I found, which says that.....Do not . ~( L6 v9 n# L! f! r* M# t# x
expect much from Crude Oil producers and future is not with the
2 }, a# `: J5 icompanies producing Jet fuels but Biofuels. Also no wonder if some of 3 ]$ l- }/ U; S- Z. u0 M* ?$ L
these oil producer will go bankrupt or out of the business even if 5 K c7 e( ^9 _4 [* D8 x
crude prices improves. This implies also to good names such as Shell, - T9 Y4 l1 z! F* z
EXXON, BG, BP, Cheveron ....xyz.. oils
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Recently OPEC reduced crude oil production twice over just a few
( F3 _( V5 H4 S, _9 S7 dmonths. There are three wars going on in Gaza, Iraq and Afghandistan. ) j& U( s( U0 L& W" ^
A year ago these things would have spiked the price of crude oil by at " ]; L6 B3 V% X- D9 F! ?! d4 V
least $50.00 per barrel. Today, oil price declined by a record amount. 5 o, g, E1 [' w& t& c2 {$ |4 y6 D
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+ _' m9 f% G1 L& l1 b- P0 r( U AThere are several reasons the price of oil is decreasing in the face
6 ^( v6 x* |+ Hof so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and
6 M) M" W' C6 |1 min the ocean near Brazil. Each of these oil fields has more oil than
! `( u& G' b3 q+ P( Y- w" o: {. yArabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
6 h- h9 ]+ W1 j" p6 GThis is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
4 y# h- ~4 O+ V4 b# d6 @+ j) K# tbeing used to double their output. ( l( i8 J( x3 \! O/ I
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4. Production of bio-fuels is beginning to reach critical mass. Bio 1 V* s# E& t9 \4 q
fuel is being produced from many plants and algae. The production
Z2 X5 {0 v7 C$ @7 ^0 Spotential per acre in some cases is astounding. Many countries are
H- g; N" P* c! P0 @4 X xracing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants 8 K& l4 z" m1 {' p; P) D7 v
are now selling their used oil to bio-diesel producers. Every pork,
+ u9 x6 P$ o+ u5 {5 C, O8 ~( Bcattle, turkey and chicken processing plant will soon sell their fat
- X9 T7 N2 ~" S/ y* {: F1 v1 Lto bio-diesel producers. One pork processing plant in Oklahoma is ( N2 \* C' F; u7 h7 o* H9 J
producing 30,000 gallons of bio-diesel per day from pork fat. 2 b e7 M/ x3 X. L
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; h' h+ n- B8 i* V6. There are 99 nuclear reactors in various stages of planning and
0 J0 ]) f: |/ X& `4 z; p0 O7 [construction around the world at this time. Several hundred more are
4 Y( N" g, y$ `4 i* i2 n mexpected to be built in the future. Much of the energy they produce ; ]3 m* L. K, h3 \2 X' h
will replace oil.
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7. Every company in any form of transportaion business is replacing
9 s3 P! d6 O6 F7 p$ h- t) folder equipment such as trucks, airplanes, train engines, ships, etc.
8 Y2 g! Z# J9 R9 twith new more fuel efficient equipment. Airlines and railway companies
. K& k) E3 O# s) }are experiencing 20% to 25% better fuel econony with the new
: u$ a/ k! ?/ L3 [, J9 Jequipment. . g) v4 A, }; {, L: O* T6 U5 h: r& [( \
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
) E, n) \2 |7 H9 u/ Efuel is cleaner and performs better than jet fuel. " K( _( k) O% g2 ?
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8. Cities and counties throughout the US are selling the rights to ) L1 _4 {2 w- L: z& P+ L
capture methane gas from landfills. This is a huge source of gas ( x2 R* I7 l% M6 y
available at very little cost or risk. The gas is displacing crude
8 l: [8 Q! X0 `! o: n$ [oil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2 ) S( s9 h% c" d4 I' u) I
produced as a byproduct is sold to oil companies for injection into + u! r+ x+ Q7 C" x* u
oil wells.
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% l, U: m1 m, [! h0 D1 x5 @10. Solar, wind and ocean energy is displacing oil as an energy
4 B. f7 b: s8 Y1 ?" |9 ]source. Three new wind turbines are being erected every day in the US. * Y k1 v! f% l# O* i
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7 T0 h5 ~# E" gEach of the above by itself will not make a large difference in the
" @7 L* H+ g3 V- Uprice of crude oil but the sum of all of them together is world
& U% Z3 V& Q3 E, bchanging. The important thing is that OPEC no longer has the ability }% ]) [2 p! s# Q/ {* K5 I
to control oil prices.
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: n' F% d- ?* \, e x6 UWith the above scenario, I still believe that there are under
6 S2 Z! w4 _( R/ e/ gperformed OIL companies and probably they are yet to get the justified
! ?$ a: i3 g$ E6 @% y; Vvalue ..... ; ?* N. W( m+ N! V3 p
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ...
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# g* j: F- k+ y' j9 m3 QThe above articles are from WSJ .............PUBLISHED ON 9TH JAN ! P6 u: c6 k) C; D% [" q+ V, Q" O
2009 ... FYI-Only |
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